Rampart Investment Management Company LLC Sells 1,313 Shares of BorgWarner Inc. (NYSE:BWA)
Rampart Investment Management Company LLC trimmed its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 21.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,915 shares of the auto parts company’s stock after selling 1,313 shares during the quarter. Rampart Investment Management Company LLC’s holdings in BorgWarner were worth $206,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of BorgWarner during the second quarter worth $25,000. Westside Investment Management Inc. bought a new stake in shares of BorgWarner during the second quarter worth $27,000. Sandy Spring Bank bought a new stake in shares of BorgWarner during the second quarter worth $27,000. Bremer Bank National Association bought a new stake in shares of BorgWarner during the first quarter worth $44,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of BorgWarner during the first quarter worth $120,000. Institutional investors and hedge funds own 90.97% of the company’s stock.
Several analysts have recently weighed in on the company. Nomura assumed coverage on BorgWarner in a research report on Tuesday, August 27th. They set a “buy” rating and a $41.00 target price for the company. ValuEngine upgraded BorgWarner from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 14th. Deutsche Bank downgraded BorgWarner from a “buy” rating to a “hold” rating and decreased their target price for the stock from $50.00 to $44.00 in a research report on Friday, July 26th. TheStreet downgraded BorgWarner from a “b-” rating to a “c+” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley set a $47.00 price objective on BorgWarner and gave the company a “buy” rating in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.60.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $1.00 earnings per share for the quarter, meeting the consensus estimate of $1.00. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.52 billion. BorgWarner had a return on equity of 20.13% and a net margin of 7.53%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. Equities research analysts expect that BorgWarner Inc. will post 3.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.85%. BorgWarner’s payout ratio is currently 15.18%.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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